De la Espriella Meets Colombia’s Business Leaders to Support Earthquake Recovery
Colombian President Abelardo de la Espriella met with some of the country’s leading business figures in Barranquilla on Aug. 22 to discuss the private sector’s role in rebuilding areas affected by the magnitude 7.4 earthquake that struck western Colombia on Aug. 10. The meeting produced two immediate commitments: lower mortgage rates for earthquake victims and […]
President Abelardo De La Espriella met with prominent Colombian business leaders in Barranquilla on August 22 to discuss how the private sector can aid in earthquake recovery efforts. The meeting resulted in two key commitments: lowering mortgage rates for earthquake victims and organizing a visit to the Choco department to develop a long-term recovery plan.
The participating business leaders represented major banking, industrial, retail, and investment groups. They agreed to set mortgage rates at 8% effective annual interest for qualifying earthquake victims, with the measure applying to housing loans held by those affected by the disaster. Additionally, they committed to visiting Choco on September 7 to help plan the department's integral recovery and transformation.
The government estimates the earthquake recovery effort could cost about 30 trillion Colombian pesos, with private-sector contributions accounting for a significant portion of the overall financing.
Written by urgent.news from Colombia One's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
